WYNN MACAU (01128) fell more than 4% after the release of its financial results. As of the time of writing, the stock was down 4.58%, trading at HK$5.83, with a turnover of HK$40.53 million. On February 13, WYNN MACAU announced the fourth-quarter and full-year results for its controlling shareholder, WYNN RESORTS, LIMITED, for the period ending December 31, 2025. In the fourth quarter of 2025, the adjusted property EBITDAR for the Las Vegas operations, Wynn Palace, Encore Boston Harbor, and WYNN MACAU decreased by $26.6 million, $21.1 million, $1.8 million, and $0.7 million, respectively, compared to the fourth quarter of 2024. A research report from CLSA noted that WYNN MACAU's property EBITDA for the fourth quarter of 2025 fell 7% year-on-year to HK$2.113 billion, meeting the firm's expectations but coming in 10% below market forecasts, impacted by a decline in win rates in both the VIP and mass market segments. The property EBITDA margin contracted by 3.6 percentage points year-on-year to 28%, which was also in line with the firm's projections. Additionally, the company revised its capital expenditure guidance for 2026 downward from the original range of $450-500 million to $400-450 million.